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How do I journalize this problem: Declared a quarterly dividend of $0.50 per share on...

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Accounting

How do I journalize this problem:

Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding.

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